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Barclays likely to expand presence in Africa

The company is seeking opportunities to expand its presence in Africa. (Image source: Roger/Flickr)

Banking major Barclays Africa Group Ltd., has revealed that it is in talks to buy its parent company’s operations in Egypt and Zimbabwe, expand in Nigeria too

According to Bloomberg, Barclays Africa Group CEO Maria Ramos said that the company’s ambition was to acquire operations in both countries, and that the senior management has agreed to carry on with the changes.

Earlier last month, executive chairman John McFarlane said he would “boost revenue and double the share price” of the African operations over the next three to four years.

In pursuit of the expansion plans, Ramos also said that expansion in Nigeria will happen and that it would be organic. Barclays Africa is awaiting license approvals in Nigeria, revealed Bloomberg.

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